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  3. on 1/1/20,abc corp bought 500 shares of xyz corp f

on 1/1/20,ABC Corp bought 500 shares of XYZ Corp for $10,000. XYZ Corp has 25,000...

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Accounting

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on 1/1/20,ABC Corp bought 500 shares of XYZ Corp for $10,000. XYZ Corp has 25,000 shares outstanding. on 6/1/20,XYZ pays a $100,000 cash dividend to all shareholders. On 12/31/20, XYZ is trading at $22/ share and during 2020XYZ reported net income of $250,000. What is the total effect on net income for ABC from this investment? Assume ABC reports annually on a calendar year basis

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